Property 1

I have given advance to builder Rs. 30 lacs in 5 years. project is still under construction. Registration of the property has been done in f. y 22-23. but possession not yet received. possession will get this year end. earlier we shows advance to builder(current Assets)Rs. 30 lacs . or should show in fixed assets. Only Rs. 2.5 lacs gst portion dues. will pay when we get possession.

pls guide us.
Replies (1)

I think you should book its as a fixed assets ....................

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